The global Abrasive Market size is expected to reach USD 47.82 billion by 2028, expanding at a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. 3M, Asahi Diamond Industrial Co., Ltd., Bosch Ltd., CUMI are some of the key players in this industry.
Abrasive Market Size Worth $47.82 Billion By 2028 | CAGR: 4.2%
The global Abrasive Market size is expected to reach USD 47.82 billion by 2028, expanding at a CAGR of 4.2% over the
forecast period, according to a new report by Grand View Research, Inc. The market is expected to be driven by the
rising growth in the metal fabrication industry on account of demand from the end-use sectors, such as automotive,
aerospace, agriculture, and medical. Abrasives are tools used for shaping and providing a smooth finish to the surface of
Based on product, the market has been segmented into coated, bonded, and others. The coated segment is anticipated
to register the fastest growth rate over the forecast period on account of the increasing application of coated materials
in metalworking, where products, such as sandpaper, are used for deburring. China held the largest share of the global
market in 2020. The country leads in terms of production as well to cater to domestic demand, as it is also a huge
According to the USGS statistics, China was the largest producer of fused aluminum oxide and silicon carbide abrasives
in 2019. Rising production in China has compelled other players in the value chain to expand their manufacturing
capacities. For instance, in August 2020, Ahlstrom-Munksjö announced to make further investments in its Binzhou plant
for producing abrasive backing paper. This investment aims at strengthening the company’s position as a leading
producer for abrasive backings across the globe.
Despite the positive market outlook for the future, the market growth plummeted in 2020 on account of the Covid-19
pandemic. Several companies witnessed losses in 2020 as the manufacturing operations were suspended, which
impacted both product manufacturing and consumption. For example, Grindwell Norton Ltd.’s abrasives division
reported a drop in sales due to a decline in industrial activity and lockdown in the first quarter of 2020.
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